For policymakers, this poses a difficult question: is it really worth spending scarce resources on helping firms to take advantage of AGOA, when the deal will end in 10 years? Those 10 years certainly hold immense opportunity, with the US being the world’s single largest consumer market, and seemingly leading the way in a global recovery that remains weak in Europe and is hurting emerging economies.
While Africa - US trade has grown during the period of the deal, the growth has overwhelmingly been in commodities (particularly oil) that do not face serious trade barriers in the first place. And with the end of the commodity boom, even that limited success is in doubt, with oil exports in 2015 being only a tenth of what they were in 2008. Read more. Source | AfDB